Wells Fargo Commercial Mortgage Securities, Inc. has filed an 8-K reporting that Greystone Servicing Company LLC has sold and conveyed substantially all assets of its special servicing division to C-IV Asset Management LLC. The transaction, known as the Sale Transaction, closed on September 1, 2026. As a result, C-IV AM has assumed all duties, responsibilities, and liabilities of the special servicer for the Davenport Mortgage Loan under the WFCM 2017-RB1 pooling and servicing agreement.
According to the filing, the key employees previously performing duties for Greystone special servicing are now employed by C-IV AM or its affiliate and continue to perform the same duties in substantially the same capacity. C-IV AM is a wholly-owned subsidiary of C-IV Capital Partners LLC and is headquartered in Irving, Texas. The company holds a special servicer rating of “MOR CS2” from Morningstar DBRS and “CSS2” from Fitch, and is listed on S&P’s Select Servicer list.
The filing details the portfolio status as of June 30, 2026. Greystone was the named special servicer for approximately 60 transactions, representing roughly 1,928 first-lien mortgage loans with an aggregate stated principal balance of approximately $20.7 billion. Of these, 33 were CMBS transactions with a balance of approximately $14.2 billion. Approximately 108 assets with a principal balance of approximately $2.1 billion were in active special servicing at that time.
C-IV AM has detailed policies and operating procedures to maintain compliance with servicing obligations, which are reviewed annually. The company has not been the subject of a servicer event of default or termination event in any securitization transaction for which it acted as special servicer. The filing also includes a table detailing the portfolio of specially serviced loans, showing a decrease in the number of specially serviced CMBS pools from 77 as of December 31, 2024, to 60 as of June 30, 2026.
